Foster & Gallagher Inc., Peoria, IL, a leading direct marketer of seeds, plants and trees, has proceeded with its divestiture of The Popcorn Factory while announcing the purchase of two leading horticulture catalogs — Gurney's Seed & Nursery Co., Yankton, SD, and Henry Field's Seed & Nursery, Shenandoah, IA.
The company said it was selling The Popcorn Factory, Lake Forest, IL, and its joint venture interest in Mauna Loa Macadamia Nuts to Wand Partners, Chicago, a private equity investment firm which owns Yankelovich Partners, Norwalk, CT, and catalog merchandising company Paragon Holdings.
Robert A. Ostertag Jr., president and CEO of Foster & Gallagher, said the company's recent moves were strategic and would help further reinforce its leadership position in the horticulture marketplace. Its purchase of the two seed and nursery properties will position the company more heavily in flower and vegetable seed sales as well as gardening tools, fertilizers and pest control products.
Foster & Gallagher also markets children's specialty toys and personal care products. It's total annual sales are about $500 million.